Jabot Cosmetics
Jabot Cosmetics '''(commonly referred to as simply '''Jabot) was a fictional cosmetics business on the CBS daytime soap opera The Young and the Restless. History Jabot was founded by John Abbott sometime in the 1960s. Jabot was famous for selling expensive, high end cosmetics, as well as for its severe financial downturns. Its main headquarters were located in Genoa City, Wisconsin. In 2009, it became a subsidiary of Tucker McCall Unlimited. Jabot had a tumultuous history. In the early 1980s John considered following his son Jack Abbott's advice to sell Jabot but then changed his mind once he found out that the company offering to buy Jabot (Mergeron Enterprises) was owned by his ex-wife Dina Mergeron. A few years later Jabot had another shake up when, after finding out his son Jack was having an affair with his younger wife Jill Abbott, John disowned Jack and fired him from Jabot. John filed for divorce and, because he didn't want the facts about Jack and Jill's affair made public, John gave Jill a divorce settlement that included one quarter ownership of Jabot, an executive position worth $150,000 a year, and a seat on the Jabot Board of Directors. John replaced Jack with John's new son-in-law Brad Carlton, who was a salesman up to that point. Jill and Brad started the Jabot Men's Line and made it into a success. But after a while the job became too much for Brad to handle and so John hired Jack back. In 1990 Jack convinced John to go public with Jabot by selling shares of Jabot stock on the stock market. This backfired on Jack when his rival, Newman Enterprises, C.E.O. Victor Newman, bought enough shares to take over control of Jabot. Losing Jabot caused John to have a heart attack. Victor fired Jack and replaced him with Brad only because Victor and John were good friends. To get back at Victor, Jack married Victor's ex-wife Nikki Newman, before Victor could propose marriage to Nikki again. Victor offered to give control of Jabot back to the Abbott family if Jack divorced Nikki. Even though Jack had fallen in love with Nikki, he accepted Victor's offer out of guilt and loyalty to John. But Victor used a loophole in the contract and voided the deal. Jack did however return to work at Jabot. After Nikki found out Jack chose Jabot over her she started divorce proceedings. But after Jack saved her daughter Victoria Newman's life and Nikki found out she was pregnant with his child, Nikki decided to stay with Jack. Victor later married Jack's sister and Jabot's chemist Ashley Abbott. A couple of years later Jack (with Brad) planned a hostile takeover of Newman Enterprises, but Victor found out about it. During a heated exchange Victor fired Jack and then collapsed. Jack walked over the top of Victor towards the door leaving him to die. But Jack used his better judgement and called 911, saving Victor's life. Victor's Deaths After confrontations with Ashley, Nikki and Victoria, Victor went on a trip to the country to get away from his problems. Victor was robbed and carjacked. The man who did it ended up dying in a car accident in Victor's car. Everyone back in Genoa City thought Victor was dead, so Jack used "Victor's death" to his advantage and took over control of Newman Enterprises. This also meant he controlled Jabot as well. Jack appointed Brad head of Newman Enterprises. Months later Victor returned to Genoa City alive and well. Victor once again fired Jack for taking over control of Newman Enterprises and as a result John and Ashley resigned from Jabot. The Abbotts decided to create a new cosmetics company to rival Jabot. But because of Victor's interference, their loan application was denied and their plans were halted. Jack then promised to stay away from Jabot if Victor hired John and Ashley back. Eventually Jack returned to Jabot as well. Many years later Victor was missing and was once again thought to be dead after his airplane crashed in New Mexico. Jack and Brad took over control of Newman Enterprises by changing spreadsheet numbers and packing the Newman Board of Directors with Jack's old flame and Victor's newest ex-wife Diane Jenkins and her lawyer Michael Baldwin. When Victor returned it was tougher for him to wrestle control of his company away from Jack and Brad this time. The 1999 vote for C.E.O.(s) of Newman Enterprises: * Jack Abbott- Himself and Brad Carlton * Brad Carlton- Himself and Jack Abbott * Jill Abbott- Victor Newman * Neil Winters - Victor Newman * Victoria Newman - Victor Newman * Michael Baldwin- Jack Abbott and Brad Carlton * Diane Jenkins- Jack Abbott & Brad Carlton * Victor Newman- Himself * Ashley Abbott- Abstained Jack told Victor that he would give him back Newman Enterprises if Victor gave control of Jabot back to the Abbott Family. Victor, seeing what Jack really wanted, counteroffered that the Brash & Sassy division must stay with Newman Enterprises and that Jack must buy Jabot from him. The Abbotts gathered enough money but they fell short before Victor's deadline. Victor bought up all the Abbotts' bank loans and, as Victor was about take back control of Jabot, Ashley convinced him to extend the deadline. To keep them afloat and get them through a required payment owed to Newman Enterprises, Brad and Nikki were approached. They they were asked for $35,000,000 each in exchange for shares of the company, as well as a seat for each of them on the Board of Directors. In December 2008, the Abbott family along with Gloria Fisher and Jeffrey Bardwell launched a hostile takeover in which Chancellor Industries lost its control over the cosmetics firm. Jabot Cosmetics was under the majority control of the Abbott family once more with the added shares of Gloria and Jeffrey. Jabot was the only major company in Genoa City not directly affected by the Clear Springs Project accident. Katherine Chancellor eventually took back Jabot, but it was taken over by Tucker McCall soon after that. Glow By Jabot In 1999, with the return of young Billy Abbott to the household, Jabot's management was inspired to use him and his friends as a way to access a younger demographic. They chose to use the internet and create a closed circuit 24 hour website where people could log on and see what the kids were doing. It took place exclusively at the Abbott pool house. Phyllis Summers was hired to be the web designer. It lead to such success that a joint partnership was formed between Jabot Cosmetics and Fenmore's to run a small boutique named Fenmore's Boutique. Glow went on for two years before fading out. Tuvia Jabot was about to buy out another cosmetics company which focused more on African-American women by the name of Satine Cosmetics, but Newman Enterprises outbid Jabot and bought it out from under them. Jabot decided to resurrect a similar idea of Ashley's called Tuvia to compete with Satine Cosmetics (which Newman later renamed Safra). Drucilla Winters, who was a longtime Abbott family friend and Jabot spokeswoman, stole a business card that belonged to former Satine Cosmetics chemist Damon Porter from her husband Neil's desk. She convinced Damon to work for Jabot (Tuvia) instead of Newman (Safra). Jabot which was still having financial problems saw the Tuvia line as a way to save Jabot for the long term. Jabot had a long and respected reputation of great products, an experienced chemist in the field in Damon Porter and long standing ties with popular department stores around the country. The company finally coerced Victor Newman into letting go of the outstanding loans when it was found that he had bribed retailers and sabotaged their very important Tuvia launch. Unfortunately they were not able to financially recover from the losses and they lost Jack Abbott as the CEO due to a deal made with Victor Newman. The company lost its men's line and was forced to shut down its Tuvia brand and lose its Glow By Jabot website. At that time, Ashley Abbott was made CEO. Bribery Scandal Victor Newman wanted to destroy Jack so Jabot hired Michael to bribe the retailers into giving Newman's Safra the front shelf space that normally showcased Jabot's products. The day before both Tuvia and Safra were to debut Victor went to see Ashley who was staying in a remote cabin and was late into her pregnancy. He told her not worry about what was about to happen. Of course the next day Safra came in first and Tuvia came in second which shocked the Abbotts. The lower than expected sales worried the Abbotts. So Ashley decided to return to Genoa City knowing Victor was behind Tuvia's bad sales. Ashley got into a nasty car crash and was rushed to the hospital. Brad and Ashley's baby, Robert Carlton, died as a result. Because of Tuvia's lack luster sales Jack accepted Diane's offer to invest her money into Jabot in order to bail them out. It was not enough, though. The company continued to struggle and eventually collapsed. After hiring Victor as a consultant and coming within minutes of filing for bankruptcy, a last minute decision was made to sell 51% of the company to Chancellor Industries. This allowed them to pay off all corporate debts, regain Jack as the CEO and fire Victor . They also ended up losing one of their chemists, Damon Porter, as well as Brad, Phyllis and Nikki. Corporate Sabotage, the Death of Emma Gibson and the Fallout Due to a lawsuit resulting from corporate sabotage by Gloria, the company went into a serious tailspin. To get rid of the lawsuit, Chancellor Industries, Jabot's owner at the time, struck a deal to fire their CEO (Jack) and pay off Emma Gibson's family (the victim). They also brought in PR consultant Carmen Mesta who later moved on to Newman Enterprises before she was brutally killed. After this Jack schemed with Korean businessman Ji Min Kim to illegally buy the company out for $250,000. This money was acquired deceptively from Victor. During the House of Kim era, Billy and Ashley moved to Hong Kong to work at House of Kim's offices. Ashley would later resign altogether and move on to Forrester Creations. Eventually their plan was revealed and Jack sold the company back to Chancellor for a fraction of what he paid. Katherine fired Ji Min and Jill left the company to follow him. Jabot under Nikki's Leadership After Ji Min's death in his hotel room, Jill returned to her former position as CEO. In January she was promoted to CEO of Chancellor. Nikki had returned and assembleded a management team which included executives Brad, Victoria and David Chow with Heather Stevens as in-house counsel. The company was in a strong financial position and had a captive international audience--a market never touched before. To increase consumption and appeal to new customers, Jabot launched the Fresh Face of Jabot contest. In the end, the winner was Lily Winters. They also formed Jabot Retro to compete with Newmans' Newman Infinity line (formerly known as Beauty of Nature Cosmetics line). A movie deal was also worked out where Jabot Retro would be sponsoring the movie with the release of the new retro line. In July, word leaked to the media that Chow--a co-CEO in the company--had a gambling problem and share prices for Jabot began to plummet. Nikki was nearly killed by Chow. He died in a car accident that critically injured Sabrina Costelana Newman, the new young wife of Victor. With Chow dead and Nikki in ICU, Brad assumed that he would become the new CEO, but was informed by Jill that she would be taking the reins. She asked Brad to be patient. Jill later announced she would become interim CEO of Jabot while they transitioned to new leadership. With Jabot stock going down, Jeffrey told his broker to buy two blocks of stock, but to keep the second block a secret from his then wife, Gloria. Meanwhile, Gloria called ordering her broker to buy up 50,000 shares of Jabot stock and to keep it a secret from her entire family, even her then husband, Jeffrey. The couple was also buying stock together in the form of a company called Agreeing Lovers which Jeffrey opened up in Grand Cayman. Cane Ashby appointed Chief Executive Officer In August, after Nikki and Victoria's resignations became final, a new CEO was needed for the company. Jill was still acting as Interim CEO. Despite Brad's desire to be CEO, Jill decided to appoint her son, Cane Ashby. Cane was appointed at a Shareholders' Meeting on August 13, 2008. Brad, to get revenge, told Jack that Jill knew about David's gambling addiction but didn't say anything until Nikki resigned. Brad told Jack to put it in Restless Style to get back at Jill. The Abbotts launch a hostile takeover of Jabot Upon the apparent death of Katherine in November 2008, Chancellor Industries lost its majority control of Jabot leaving it vulnerable to a takeover attempt. Scheming couple Gloria and Jeffrey had plotted for months to take over the company. They realized that the only way was to ally themselves with the former Abbott stepchildren of Gloria and use their combined shares to assume control. Spearheaded by Jack, the Abbotts agreed to combine their voting shares together with those of the Bardwells to effectively seize control of Jabot and make it an Abbott family-owned company once more. At a major stockholders' meeting on December 2, 2008, the Abbotts and Bardwells revealed their plan and effectively took over Jabot making it an Abbott-owned company once more. Billy, Gloria and Jeffrey all assumed they would be appointed CEO in the aftermath of the takeover, only to learn that Ashley would be taking the reins and running her late father's conglomerate once more. Ashley assured Billy that one day he would assume control. Gloria and Jeffrey were livid that the Abbotts double-crossed them and were biding their time for an opportunity to take their revenge. Chancellor Industries Regains Control of Jabot...Sort of... In January 2009, the major power players of Genoa City all were after the five percent of Jabot stock that was willed to Gloria by the "late" Katherine. Jack, Jill and Jeffrey all made very serious and generous offers to Gloria on the condition that she sell the stock to them. Gloria refused all of them and it seemed as if Gloria would be holding on to the stock until the dark knight of Genoa City showed up to pay her a visit. Victor made a deal with Gloria in which he would pay her many times over what the stock was actually worth and would make sure no one could touch the funds as long as she would sell the stock to him. If she kept her mouth shut as to who she had sold it to, it was a deal. Gloria agreed and Victor was thus the new owner of the highly contested five percent swing controlling interest shares of Jabot. Victor also made a deal with Jill saying that he would let her and Chancellor have the proxy of the five percent. This would regain the controlling shareholder status she and CI once had. If she made Billy the new Chief Executive Office of the cosmetics firm, it was a deal. Doing that would mean removing Victor's former and current love interest from the position and having the baby brother of Victor's lifelong sworn enemy, Jack, calling the shots. Billy would also have authority over Jack resulting in his complete humiliation. Jill agreed to the conditions and informed her sons and the Abbotts of the change of events. To protect the bottom line, the Abbotts would remain the leaders and figure heads of Jabot all the while Victor was behind the scenes pulling the strings as puppetmaster. Jabot Cosmetics Owners Current *Tucker McCall (2010-) Former * The Abbott Family (2008) * Chancellor Industries (Majority Owners via Victor Newman's 5% stock ownership proxy) * Ashley Abbott (2006-2010, minority owner) * Billy Abbott (2006-2010, minority owner, CEO) * Jill Abbott (1986-2010, minority owner) * Traci Abbott Connolly (2006-2010, minority owner) * Victor Newman (2009-2010, minority owner, partnership with Chancellor Industries) * [[John Abbott (1960s-1989, 1999-2005, 2006, majority owner) (deceased) * Jack Abbott (2006-2007, majority owner) * Victor Newman (1989-1999 majority owner) * Nikki Newman (2000-2005, minority owner) * Brad Carlton (2000-2005, minority owner) * Ji Min Kim (2006-2007, partnership with Jack Abbott) * Gloria Bardwell (2008- 2009, minority owner) * Jeffrey Bardwell (2008- 2009, minority owner) Jabot Cosmetics Employees Employees and Roles * Ashley Abbott, Co-CEO * Jack Abbott, Co-CEO * Diane Jenkins * Kevin Fisher, Director of Internet Affairs Former * John Abbott (Founder and Former Chief Executive Officer, Former Chairman of the Board of Directors) (Deceased) * Billy Abbott (Former Chief Executive Officer) * Brad Carlton (Former Chief Operating Officer) * Carmen Mesta (Former PR Consultant) (Deceased) * Chloe Mitchell (Former Fashion Coordinator) * Damon Porter (Former Chemist) * David Chow (Former Co-Chief Executive Officer, Board Member)(Deceased) * Drucilla Winters (Former Executive) (missing and presumed dead) * Gloria Abbott Bardwell (Former Majority Shareholder, Former Director of Creative Affairs; Former Receptionist) * Heather Stevens (Former Corporate Attorney, In-House Counsel) * Jeffrey Bardwell (Former Majority Shareholder) * Joanna Manning * Ji Min Kim (Former Chief Executive Officer) (Deceased) * Jill Abbott Fenmore (Controlling Shareholder, Board Member, Chairwoman & Chief Executive Officer of Chancellor Industries). * Lily Winters (Former Fresh Face of Jabot Spokesperson) * Malcolm Winters (Former Photographer) * Nikki Newman (Former Chief Executive Officer, Board Member) * Phyllis Summers (Former Web Designer) * Sharon Newman (Former Spokesperson) * Skip Evans (Former Photographer) * Traci Abbott Connolly (Shareholder, Board Member) * Victor Newman (Unknown Controlling Shareholder of Jabot/silent partner of Jill Abbott, Board Member, Former Executive Consultant; Former Acting Chief Executive Officer) * Victoria Newman (Former Vice President, Board Member) Former Glow By Jabot Employees * Brittany Hodges * JT Hellstrom * Mackenzie Browning * Phyllis Newman * Raul Guttierez * Rianna Miner * Sean Bridges Trivia * When Victor Newman was hired as a consultant and given the CEO office to use, he unsuccessfully tried to toss Jack Abbott, who refused to leave the office, out of the building. Victor smugly told Jack that he would be sitting in the CEO chair from now on, and wants him out of it. Jack threw the chair through one of the windows onto the street below and left the office on his own terms with the final parting shot "Have a seat...on me!" * Was purchased for $250,000,000 in 2007 and sold for a fraction of that again in 2007. * Has a very high end reputation in the cosmetics industry. * Lost its Men's line (created by Jill and Brad) due to financial difficulty.